I just need the direct materials.

More Info (Unless otherwise noted, assume all of the following events occurred during 2018 and that any balances given are stated as of December 31, 2018 ) a. Budgeted sales are 1,500 sets for the first guarter and expected to increase by 50 sets per quarter Cash sales are expected to be 20% of total sales, with the remaining 80% of sales on account Sets are budgeted to sell for $90 per set b. Finished Goods Inventory on December 31, 2018, consists of 550 sets at $35 each c. Desired ending Finished Goods Inventory is 30% of the next quarter's sales, first quarter sales for 2020 are expected to be 1.700 sets. FIFO inventory costing method is used d. Raw Materials Inventory on December 31, 2018, consists of 3.300 pounds Direct materials requirement is 6 pounds per set. The cost is 1 per pound e. Desired ending Raw Materials Inventory is 10% of the next quarter's direct materials needed for production desired ending inventory for December 31, 2019, s. 3.300 pounds. Indirect materials are Insignificant and not considered for budgeting purposes 1. Each set requires 0 20 hours of direct labor direct labor costs average 10 per hour 9. Variable manufacturing overhead is $2.00 per set h. Fixed manufacturing overhead includes $4500 per quarter in depreciation and 58.020 per quarter for other costs, such as utilities Insurance and property taxes Fixed selling and administrative expenses include 59.000 per quarter for salaries 55,700 per quarter for rent $600 per quarter for insurance and 51 000 per quarter for depreciation Print Done More info Fixed selling and administrative expenses include $9.000 per quarter for salaries. 55,700 per quarter for rent, $500 per quarter for insurance, and 51,000 per quarter for depreciation 1 Variable selling and administrative expenses include supplies at 3% of sales k Capital expenditures include 520,000 for new manufacturing equipment to be purchased and paid for in the first quarter Cash receipts for sales on account are 60% in the quarter of the sale and 40% in the quarter following the sale, Accounts Receivable balance on December 31, 2018 is expected to be received in the first quarter of 2019. uncollectible accounts are considered insignificant and not considered for budgeting purposes m. Direct materials purchases are paid 70% in the quarter purchased and 30% in the following quarter Accounts Payable balance on December 31, 2018 is copected to be paid in the first quarter of 2019 n. Direct labor, manufacturing overhead, and selling and administrative conts are paid in the quarter Incurred 0. Income tax expense is projected at $4.500 per quarter and is paid in the quarter incurred P: Truvor desires to maintain a minimum cash balance of $60.000 and borrows from the local bankas needed in increments of $1.000 at the beginning of the quarto, principal payments are made at the beginning of the quarter when excess funds are available and increments of $1000, interest is 129 per year and paid at the beginning of the quarter based on the amount outstanding from the previous quarter Paint Done Trevor Toy Company Balance Sheet December 31, 2018 Assets 60,000 18,000 3.300 Current Assets Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property. Plant and Equipment Equipment Less Accumulated Depreciation 19.250 100 550 188.000 (39,000) 149,000 -X Data Table S 100.550 Total Current Assets Property, Plant, and Equipment Equipment Less: Accumulated Depreciation Total Assets 188,000 (39,000) $ 149,000 249,550 Liabilities 16,000 Current Liabilities Accounts Payable $ Stockholders' Equity Common Stock no par 5 180.000 Retained Earnings 53.550 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 233 550 249,550 Print Done Requirements 1. Prepare Trever's operating budget and cash budget for 2019 by quarter Required schedules and budgets include sales budget production budget dired materials budget direct labor budget, manufacturing overhead budget cost of goods sold budget selling and administrative expense budget schedule of cash receipts. schedule of cash payments and cash budget Manufacturing overhead costs are allocated based on direct labor hours Round a calculations to the nearest dollar) 2. Prepare Trevor's annual financial budget for 2015, including budgeted Income statement and budgeted balance sheet 3. Trevor sold 7 100 sets in 2019, and its actual operating income was as follows mm Click the icon to view the actual income statement) Prepare a feble budget performance report through operating income for 2019 Show product costs separately from seling and administrative costs to simply the calculations due to set in beginning inventory having a diferent cost than those produced and sold in 2019. assume the following producto Click the icon to view the productos 4. What was the effect on Trever's operating income of seng 800 more than the static budget level of sales? Print Done Requirements 5. What is Trevor's static budget variance for operating income? 6. Explain why the flexible budget performance report provides more sul Information to Trevor's managers than the static budget performance report What Insights can Trevor's managers draw from this performance report? T. During 2019. Trevor recorded the following cost dat Click the icon to view the standard cost data m Click the icon to view the actual cost dut) Compute the cost and ulticiency variances for direct materials and direct labor 8. For manufacturing overhead, compute the variable overhead cost and efficiency Valances and the fored overhead cost and volume variances 9. Prepare the standard cont income statement for 2019 10. Calculate Trevor's ROI for 2019 To calculate average to see December 31, 2016 balance sheet for the beginning balance and the trageted balance sheet for December 31, 2019 for the ending to Round all of your awwers to four decimal places PV 11. Culote Trevor's proftratio for 2019 terpret your 12. Calcule Trevor's asset tumover at for 2019 Interpret your results 13. Use the expanded ROI formulato conform your results from Requirement to Interpret your 14. Trevor's management has specited a 10% target of return Calculate Trevor's RI for 2019. Interpret your Po 0 Data Table - X Total Static budget Flexible budget Variable $ 72,670 $ 85,606 Fixed 50.080 $ 50.080 122.750 135.686 Print Done Data Table - X Cost Standard Cost Information Quantity Direct materials 6 pounds per set Direct labor 0.20 hours per set Variable manufacturing overhead 0 20 hours per set Fixed manufacturing overhead Static budget amount: $50,080 0.20 hours per set $1 per pound $10 per hour $10 per hour $40.00 per hour Print Done Data Table Actual Cost Information Direct matijals Direct labor Variable manufacturing overhead Fixed manufacturing overhead (42 300 pounds @ 51 40 per pound) $ (1,380 hours 510 10 per hour) (1.380 hours @ 59 60 per hour) 59,220 13.938 13248 48.480 Print Done Direct Materials: Accounts Payable balance December 31, 2018 1st Qtr - Qtr. 1 direct material purchases paid in Qtr. 1 1st Qur-Qtr. 1 direct material purchases paid in Qu. 2 2nd Qtr-tr. 2 direct material purchases paid in Qtr 2 2nd Qtrtr. 2 direct material purchases paid in Qt 3 3rd Qtr-tr. 3 direct material purchases paldin :3 3rd Otr-Qur. 3 direct material purchases paldin 04 4th Otr-tr. 4 direct material purchases paid in Or Total payments for direct materials Total payments for direct materials Direct Labor: Total payments for direct labor Direct Materials Budget . - Third Fourth Quarter Quarter Total 1,615 6 6,260 1,665 6 6 Direct Materials Budget For the Year Ended December 31, 2019 First Second Quarter Quarter Budgeted sets to be produced 1,415 1,565 Direct materials per set (pounds) 6 6 Direct materials needed for production 8,490 9,390 Plus Desired direct materials in ending inventory 939 969 Total direct materials needed 9,429 10.359 Less: Direct materials in beginning inventory 3,300 939 Budgeted purchases of direct materials 6,129 9.420 Direct materials cost per pound $ 1S 15 $ 6.129S Budgeted cost of direct materials purchases 9.4205 9,690 999 9,990 3,300 37,560 3,300 10.689 969 13,290 999 40,860 3,300 9,720 1S 37,560 12.291 115 9.720 S 12.291 S 37,560 Direct Labor Budget Trevor Toy Company Direct Labor Budget For the Year Ended December 31, 2019 First Second Third Quarter Quarter Quarter Fourth Quarter Total 1,415 0.20 1,565 0.20 1.615 0.20 1,665 0.20 Budgeted sets to be produced Direct labor hours per unit Direct labor hours needed for production Direct labor cost per hour 6,260 0.20 283 313 $ 323 10 S 333 10$ 10||$ 10||$ 1.252 10 CA Budgeted direct labor cost 2,830 $ 3.130 $ 3.230||$ 3,330 $ 12,520 Print Done Fourth Quarter Total Trevor Toy Company Manufacturing Overhead Budget For the Year Ended December 31, 2019 First Second Third Quarter Quarter Quarter Budgeted sets to be produced 1.415 1,565 1,615 VOH cost per set 2.00 $ 2.00 $ 2005 Budgeted VOH 2,830$ 3.130$ 3.2305 Budgeted FOH Depreciation 4,500 4,500 4.500 Utilities, insurance property taxes 8.020 8,020 8,020 Total budgeted FOH 12,520 12.520 12.520 15,350 $ 15,650 $ 15.750 | 5 Budgeted manufacturing overhead costs GA 1,665 2.00 $ 6,260 2.00 3,330$ 12,520 4,500 8.020 18,000 32,080 50.080 12.520 15,850 $ 62,600 Print Done Manufacturing Overhead Budget Quarter Quarter Quarter Quarter Total 1,415 2.00 $ 1565 2.00||$ S 1,615 2.00||$ 1,665 2.00 $ 6,260 2.00 $ 2,830$ 3,130 S 3.230$ 3,330 12,520 Budgeted sets to be produced VOH cost per set Budgeted VOH Budgeted FOH Depreciation Utilities, insurance, property taxes Total budgeted FOH 4.500 8,020 4,500 8,020 4.500 8,020 18,000 32,080 4,500 8020 12,520 15,750 $ 12,520 12,520 12,520 50.080 Budgeted manufacturing overhead costs 15,350 $ 15,650 $ 15,850 $ 62,600 283 313 323 333 Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate A 1 252 62.600 50 S Selling and Administrative Expense Budget Fourth Quarter Total Trevor Toy Company Selling and Administrative Expense Budget For the Year Ended December 31, 2019 First Second Third Quarter Quarter Quarter Salaries Expense $ 9.000 9,000 $ 9.000 $ Rent Expense 5.700 5,700 5.700 Insurance Expense 600 600 600 Depreciation Expense 1,000 1.000 1.000 4050 Supplies Expense 4.11$ 4.320 S 20.350 $ Total budgeted selling and administrative expense 20.485 S 20.620||$ 36,000 9,000 $ 5.700 22.800 600 2.400 4,000 1.000 4.455 17010 20.7555 82,210